Credit Repair Agency

noelp24

Hi There

As a student i completely screwed my finances and myself over. I now have money to clear debts.

Does anyone recommend any Credit Repair Agency I can use to help me clear my debts( I have the savings) and improve my score as fast as possible. They have a bad press but surely some are effective.

1. I have 5 late notices for 1 account. An account i had but didnot use became overdrawn. This went on for 5 months before i noticed. Nationwide saw my side and waived the charges. I have since closed the account.
Do you think if i go into my old branch they will remove the 5 late notices seeing they waived the charges with no argument. As effectively the charges were illegal in the first place.


2. I have defaulted on an account. This has ruined me. However looking through my records I cant see a default notice. In actual fact I have a letter from the bank's in house debt collector stating my account will be closed if i dont bring it back into agreed overdraft however this is dated after the actual default that is on my credit file. If they register a default is the account not then closed or simply in default.
Is this one way of having it removed i.e. they have not documented things correctly. I have a feeling they will not be able to prove the notice of default.

And regardless of no notice of default is it possible to have this removed without clearing the debt with the new owners thames credit,( which i can do but wouldnt if i could have it removed) It s just reading through these threads about people haveing defaults removed im not sure if this is before or after clearing the debt. My concer here is people seem to think a settled default is 95% as bad as non settled default.

Anyone have any ideas. For the first time I have the cash to solve the problems but I want to approach it correctly.


Cheers,
Noel

reaver

Firstly, well done for wanting to deal with this!
Secondly, stay well away from so-called 'Credit Repair' companies, they are evil!
Thirdly, click on the link at the top of this forum for the Debt Free Wannabe Resource Bar, that section tells you all you need to know.
I'm using CCCS to arrange my DMP. Good luck! x

poorandindenial

Hi there

As far as I now there is nothing that they can do to repair your credit report quickly. your credit report is meant to be an accurate record of your credit and lists balances, payment history etc etc. The reality it is only by being good for a sustained period of time that you can repair your credit report. Read Martin's arcticle here
Get in touch with national debtline (www.nationaldebtline.co.uk) for advice about removing the default - there are template letters and factsheets on their website.

You can chance your arm with getting the late payments taken off, but the reality is they will say that the payment waivers were a gesture of goodwill and that the information on your credit file is an accurate representation of fact.

If you have savings you can offer full and final settlements to the agencies - but be careful with the wording of wat you ask for and they offer - I think Martin has a guide that I will look for but if you type full and final settlements into the search on the forums here you will find lots of advice.

Why do you need to repair it fast? are you looking for more crdit?

Billy_two_speakers

noelp24 wrote: »

Hi There

As a student i completely screwed my finances and myself over. I now have money to clear debts.

Does anyone recommend any Credit Repair Agency I can use to help me clear my debts( I have the savings) and improve my score as fast as possible. They have a bad press but surely some are effective.

1. I have 5 late notices for 1 account. An account i had but didnot use became overdrawn. This went on for 5 months before i noticed. Nationwide saw my side and waived the charges. I have since closed the account.
Do you think if i go into my old branch they will remove the 5 late notices seeing they waived the charges with no argument. As effectively the charges were illegal in the first place.


2. I have defaulted on an account. This has ruined me. However looking through my records I cant see a default notice. In actual fact I have a letter from the bank's in house debt collector stating my account will be closed if i dont bring it back into agreed overdraft however this is dated after the actual default that is on my credit file. If they register a default is the account not then closed or simply in default.
Is this one way of having it removed i.e. they have not documented things correctly. I have a feeling they will not be able to prove the notice of default.

And regardless of no notice of default is it possible to have this removed without clearing the debt with the new owners thames credit,( which i can do but wouldnt if i could have it removed) It s just reading through these threads about people haveing defaults removed im not sure if this is before or after clearing the debt. My concer here is people seem to think a settled default is 95% as bad as non settled default.

Anyone have any ideas. For the first time I have the cash to solve the problems but I want to approach it correctly.


Cheers,
Noel

bank credit rating has its plus points stops you spending money you dont have

clear your debts and wait for nature to runs its course

noelp24

Thanks but would the default debt need to be cleared with DCA that now has debt before they consider removing the default which i hope they must as they never gave me the notice. but i still dont know where i stand with the debt DCA now oens?

poorandindenial

The default will stay even when the debt is repaid, it takes 6 years to fall off. If you don't think it was a legit default because you didn't receive a notice then you can try to get it removed. I'll pop a link up for doing this in a mo.

poorandindenial

http://www.consumeractiongroup.co.uk/forum/hsbc-bank/126335-trying-remove-default-hsbc.html

noelp24

Thanks for the help poorandindenial.

I know that they haven't followed procedure so theoretically i can have it removed. It seems alot of people are having success. One person had £25,000 default removed.

But what i still don't understand is even if they dont provide default notice and subsequently you can have it removed DO YOU STILL OWE THE MONEY????

Surely the banks dont give up on their cash???